Current cardholders can choose whether to move to the new plan but if you spend under $40K a year you will be better off with the new plan.
Compared to the MBNA SmartCash card, if you max out on getting 3% for gas and groceries every month, this card is better over about $29K of spending. If you don't max out on gas and groceries this card is better at a lower point.

The Platinum version is now the same but pay a 25% bonus. The only reason you would get this is if you don’t meet the income or credit requirements of the World version.

NOTE BEFORE YOU READ FURTHER: The World version has been grandfathered. Same thing for the 25 (Platinum)/50% (World) anniversary bonus at the end of the year. (Edited by angel_wing0)

Aspire Cash World MasterCard:
• Earn Rate: 1% cash rewards on everything you buy (on all net purchases)
• Every year you’re a customer you get 50% extra cash rewards, on top of the cash rewards you’ve already earned. For example, if you spent $30K on the card, earned $300 in cash rebate ($30K * 1%), you'd get an anniversary bonus of $150 ($300 * 50%).
• NO ANNUAL FEE
• Our ‘No Hassle Rewards’ redemption platform – No limit to the number of times you can redeem. Redeem for a statement credit or cheque.
• World MasterCard Travel BenefitsFull details here

Travel Emergency Medical
As the primary cardholder, you, your spouse and your dependent children, when travelling with either parent, are covered for trips up to 22 days, if under 65 years of age, and for trips up to 8 days, if 65 years of age or older.

Trip Cancellation
You'll be covered for up to $1,000 of eligible cancellation expenses per insured person, to a maximum of $5,000 per trip. Trip Cancellation covers you, as the eligible cardholder, your spouse and your dependent children when travelling with you and/or your spouse. It also covers up to two travelling companions.

Trip Interruption
If an illness, injury or other covered cause prevents you from continuing your trip, you'll be covered for up to $5,000 of eligible trip interruption expenses per insured person, to a maximum of $25,000 per trip. Trip Interruption covers you, your spouse, your dependent children and up to two other travelling companions.

Flight Delay
You may be reimbursed for eligible reasonable living expenses incurred during the period of a delayed flight or missed connection which lasts four hours or more to a limit of $250 per day and $1,000 per trip for all insured travellers.

Baggage Loss
If your checked baggage is lost by an airline you can be reimbursed up to $1,000 per trip for all insured travellers. The full cost of your tickets must be charged to your Capital One credit card.

Baggage Delay
If your checked baggage is delayed for more than four hours at your away-from-home destination, you, your spouse and your dependent children may be eligible for reimbursement of up to $100 per day for up to three days to purchase essential items.

Car Rental Collision/Loss Damage Waiver
You'll be insured for up to 48 days if your rental car is damaged or stolen.

MasterAssist Travel Assistance
Provides 24/7 assistance for medical referrals, emergency cash transfers, lost documents and ticket replacements, lost luggage assistance and legal referrals when travelling outside your province of residence. Any costs incurred in connection with these services are charged to your Capital One credit card.

World MasterCard Everyday Benefits

Price Protection
When you use your Capital One credit card to buy a new item in Canada that is advertised for sale at a lower price within 60 days of purchase, Price Protection refunds the price difference up to $100 per item and $500 per calendar year.

Extended Warranty
When you use your Capital One credit card to purchase most personal items (and the full cost of the item is charged to your card), Extended Warranty coverage automatically doubles the original manufacturer’s warranty for up to two additional years.

Purchase Assurance
Most personal items purchased are automatically insured against theft, loss or damage anywhere in the world for 120 days from the date of purchase when the full cost of the item is charged to your Capital One credit card.

Concierge Services
One-call assistance with arrangements for travel, entertainment, business and shopping. Any costs incurred in connection with these services are charged to your Capital One credit card.

$0 Fraud Liability
If your card is lost or stolen and used without your authorization, you’re protected with $0 Fraud Liability. That means you won’t pay for any unauthorized purchases on your card.

Master RoadAssist® Service
This service provides pre-negotiated rates for 24-hour emergency road service, for travel 80 km or more away from your home including towing, gas delivery and minor mechanical aid. The roadside service expenses are billed directly to your Capital One credit card.

Aspire Cash Platinum MasterCard:
• Earn Rate: 1% cash rewards on everything you buy (on all net purchases)
• First Purchase Bonus: $50 cash rewards bonus when you make your first purchase
• Every year you’re a customer you get 25% extra cash rewards, on top of the cash rewards you’ve already earned.
• No annual fee
• Our ‘No Hassle Rewards’ redemption platform – No limit to the number of times you can redeem. Redeem for a statement credit or cheque. Platinum MasterCard Travel BenefitsFull details here

Baggage Delay
If your checked baggage is delayed for more than four hours at your away-from-home destination, you, your spouse and your dependent children may be eligible for reimbursement of up to $100 per day for up to three days to purchase essential items.

Car Rental Collision/Loss Damage Waiver
You'll be insured for up to 48 days if your rental car is damaged or stolen.

|Platinum MasterCard Everyday Benefits

Price Protection
When you use your Capital One credit card to buy a new item in Canada that is advertised for sale at a lower price within 60 days of purchase, Price Protection refunds the price difference up to $100 per item and $500 per calendar year.

Extended Warranty
When you use your Capital One credit card to purchase most personal items (and the full cost of the item is charged to your card), Extended Warranty coverage automatically doubles the original manufacturer’s warranty for up to two additional years.

Purchase Assurance
Most personal items purchased are automatically insured against theft, loss or damage anywhere in the world for 120 days from the date of purchase when the full cost of the item is charged to your Capital One credit card.

$0 Fraud Liability
If your card is lost or stolen and used without your authorization, you’re protected with $0 Fraud Liability. That means you won’t pay for any unauthorized purchases on your card.

Master RoadAssist® Service
This service provides pre-negotiated rates for 24-hour emergency road service, for travel 80 km or more away from your home including towing, gas delivery and minor mechanical aid. The roadside service expenses are billed directly to your Capital One credit card.

That was just be the brevity of the info I had initially. More details are available now. It has all the same World MC Benefits as the CapOne Aspire World MC.

There is the potential for this card to be better if you spend a lot of money and want a pure cashback card because of the 20%.

If you just take the Aspire to be a cashback card, then the annual bonus is equivalent to $75, which means that for this card to have the same annual bonus, you will need to spend $25,000, or around $2,000 a month. Anything on top of that is pure gravy if you are talking about pure cashback. Of course, you are still losing on the potential 2% return that you can get for travel. However, you have to deal with the annoying (imo) redemption brackets which means you might not be able to get the full 2% every time.

I think this card is worth it if you spend a lot of money (say 30-40K+) and want a pure cashback card simply for the 20% bonus.

It's also worthy to note that in order to have the card "pay for itself" with the bonus, you will need to spend an annual amount of $40,000, which means that anything on top of that will make this card a pure cashback card with a greater than 1.5% cashback, which is pretty amazing since there is no upper limit. This is why if you spend a lot of money, there is a potential for this to have a greater return than the Aspire Travel.

So it's a trade-off between the extra .5% in potential travel redemption after 1k spend vs an extra .3% on cashback over 40k worth of spend. Seems like a 40k tier will be more of a roadblock than the travel tiers for most people.

It's also worthy to note that in order to have the card "pay for itself" with the bonus, you will need to spend an annual amount of $40,000, which means that anything on top of that will make this card a pure cashback card with a greater than 1.5% cashback, which is pretty amazing since there is no upper limit. This is why if you spend a lot of money, there is a potential for this to have a greater return than the Aspire Travel.

So it's a trade-off between the extra .5% in potential travel redemption after 1k spend vs an extra .3% on cashback over 40k worth of spend. Seems like a 40k tier will be more of a roadblock than the travel tiers for most people.

Perhaps $40K would not be a problem for me but only to get 2%? Very weak. If it were 2% + 20% bonus, this would do it.

So it's a trade-off between the extra .5% in potential travel redemption after 1k spend vs an extra .3% on cashback over 40k worth of spend. Seems like a 40k tier will be more of a roadblock than the travel tiers for most people.

I absolutely agree. But there will be a niche of people out there who believe that cash is king.

So it's a trade-off between the extra .5% in potential travel redemption after 1k spend vs an extra .3% on cashback over 40k worth of spend. Seems like a 40k tier will be more of a roadblock than the travel tiers for most people.

I believe he means that a lot of people won't be able to break the 40K tier in order to make this card essentially "free".

The extra 0.3% is the maximum that people would be able to get "extra" on their cashback, since 1.2 x 1.5% = 1.8%.

The $1,000 is the breakeven point required for the Aspire Travel if you treat it as a pure 2% travel rewards card.

Regardless, I think the jist of what he's saying is that there would be more people attracted to the Aspire Travel once you work out the math than the Aspire Cash because of the barriers to maximize its potential.

Hi all, It’s Laurel from Capital One. We really appreciate hearing your feedback on our products and I always convey any issues or concerns you may have with my colleagues. And thanks to JWL for starting this conversation.

Today’s launch of our new cash rewards cards compliment our suite of Aspire products by giving consumers more options to earn rewards. I see that some of you are comparing the benefits of Aspire Travel World MC and the Aspire Cash World MC, but it really comes down to individual preferences. Our customers love travel reward miles, but there are many people out there who prefer cash rewards, which is why we've launched these two new cards.

Curious to hear people's thoughts about the no-fee Aspire Cash Platinum card. How do you think it stacks up against other cash back cards out there?

Depending on the distribution the Scotia Momentum Infinite might easily be the better card. Using JWL's example of 33K if someone spends 10K or more on groceries and gas, which is very common for a family of 2 or more, it works like this:

Now those number can skew even further towards Momentum if some of those $23,000 purchases are made at a drug store.

Like LSO said, some people like cash back. I for one do, because it doesn't require me to do anything else or for the stars to line up to maximize the rebate. Its strictly dependent on my usage and me cashing it out.

Having said that, the insurance coverage on Momentum Infinite as well as Aspire Cash is sub-par. I definitely can't use for booking flights. Insurance is something we have hoping we never have to use it. The only cash back with decent coverage is CIBC Unlimited but that offers a lame rate of return. Also I think since if Aspire could offer 1.5% bonus on gas & groceries it would sweep the cash back market fairly easily.